LATEST NEWS Professional Services
February 19, 2009
Royal Ontario Museum agrees to sell McLaughlin Planetarium site to University of Toronto
After abandoning a plan to replace the historic McLaughlin Planetarium building at 90 Queen’s Park Crescent with a 46-storey condominium building, the Royal Ontario Museum (ROM) has agreed to sell the site for $22 million to the University of Toronto.
The value of the purchase was determined based on net profit that the ROM had hoped to make on the proposed residential development, which had met with resistance from local and environmental groups.
The purchase will provide the university with much-needed room for a planned expansion of the St. George campus and will serve the local community with potential retail and commercial space.
The university expects to undertake a lengthy planning procedure and Master Planning process through 2011, which will help to flush out the development potential on the site.
However university representatives have already said the development will include classroom and office space for the Faculty of Law and the Faculty of Business.
The ROM will also lease office and storage space in the new buildings.
The McLaughlin Planetarium was built after the university transferred the land to the ROM free of charge in 1967. University representatives now expect the building will be demolished as part of the expansion project.
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 527 projects with a total value of $1,552,331,732 that Reed Construction Data Building Reports reported on Friday.
$120,000,000 Oakville ON Tenders
$48,225,000 Etobicoke ON Prebid
$40,000,000 Ottawa ON Negotiated
- CCA96th: Unlocking Canada's Potential
- VIDEO: LiUNA Local 183 Training Centre introduces new programs
- Break ground beyond Canada, says new CCA chair
- Construction of Haiti’s Ecole Lakay drives forward
- The power of proper project management
- Panama Construction Fact for Today
- Federal government unveils $32.5 million in funding for Quebec ice oval
- Canadian job market “sputters” in February
- Construction and machinery to see increased investment, says StatsCan
- Line 3 pipeline plans for Enbridge
- VIDEO: Canadian Construction Association conference Panama preview
- Concerns raised about P3 approach for Saskatchewan schools
- Manitoba focuses on infrastructure spending in budget
- Journal of Commerce Preview for the week of March 10th, 2014
- Team work and prep are keys to success: Hadfield
- Panama Canal expansion digs deep
- Wood Design Awards
- Outgoing chair reflects on time at the helm of the CCA
- School board asks for traditional procurement
- Site Services in Vancouver
- Looking to improve contract awards
- Environmental verdict riles Taseko
- Prentice to mediate First Nations agreements
- CAWIC funded to create action plan to attract women
- More video surveillance used on construction sites
- Modular workforce housing meets Alberta Building Code standard
- Manitoba outlines infrastructure plan
- BC Hydro posts RFQ for Site C project